Success stories

GetTreated founders Shaghig Aguilian and Raffi Elliott
It all started with an operation: Raffi – a Canadian-born web developer who repatriated to Armenia in 2011 – checked in to hospital in Yerevan for treatment on a long-overdue health issue that doctors back in Canada had failed to handle. Not only was he delighted with the result, he was stunned by the price-quality ratio. “It was then that I decided to create an app to help other people around...
The Grovf team have developed a prototype that slashes data processing times
In a world of big data and artificial intelligence, processing power is the motor of a new industrial revolution. With ever more data being generated, the capacity of processors to store and analyse data is failing to keep up. This is where Grovf comes in, an Armenian start-up hoping to join the data revolution with the help of EU4Business . Grovf works on hardware acceleration of core database...
With funding from the European Union under the EU4Business Initiative, the European Bank for Reconstruction and Development (EBRD) helped Bargavachogh Tsantser Ltd., a regional telecoms company in Armenia, to develop a strong corporate identity and improve its management effectiveness. The EBRD supported Bargavachogh Tsantser Ltd., a regional telecom service provider, in improving its performance...
Female construction company
An Armenian woman who set up a construction firm in Armenia six years ago has seen the firm’s turnover more than double thanks to help from the European Bank for Reconstruction and Development. With funding from EU4Business and Sweden, the EBRD’s Women in Business programme helped Smart Construction Ltd. to computerise the operational and financial practices so the company could manage its...
With funding from Sweden and the European Union under the EU4Business Initiative, the European Bank for Reconstruction and Development (EBRD) helped Farma-Star Ltd., a woman-led network of pharmacies in Armenia, introduce a new human resources policy to increase employee performance and sales. The EBRD supported Farma-Star Ltd., a network of pharmacies in Yerevan and surrounding regions, to...
Dr Vardanush Petrossian in the Ingrediant café.
Dr Vardanush Petrossian, a medical doctor with a specialisation in nutrition, has always dreamed of running her own healthy food-focused café. Using her own savings, she opened the Ingredient Café. Now, with the support of the Women in Business Programme, funded by EU4Business, the European Bank for Reconstruction and Development (EBRD) and Sweden, Vardanush’s café is expanding. The Ingredient...
Whether it be rebranding, reorganising, re-financing or expanding, the European Bank for Reconstruction and Development (EBRD) is providing Armenian small and medium sized enterprises (SMEs) with the know how to succeed. When regional telecom company Bargavachogh Tsantser Ltd. was looking to rebrand, the EBRD provided the financing the company needed to develop a strong corporate identity. As a...
People serving in Levart’s Food, Pizza and Sandwich Shop.
With the support of EFSE funding, Levart’s Food, Pizza and Sandwich Shop expanded its operations, doubled its turnover and hired more help. At Levart’s Food, Pizza and Sandwich Shop in Armenia, one can find more than 15 kinds of pizzas – not to mention an unimaginable array of sandwiches and hamburgers. Its shelves are overflowing with spinach, cabbage, potatoes, meats, cheeses and freshly-baked...
Baker Vahan Khachatryan used to dread receiving the electricity bill and seeing his profits be wiped out by old, inefficient ovens. But thanks to a loan from the EFSE, his bakery is benefiting from state-of-the-art ovens and a customer base that’s always hungry for more. Getting up well before the crack of dawn isn’t ever easy – and nobody knows this as well as Patvakan Khachatryan, owner of the...
'Participants in the meeting organized by the European Business Association (EBA).
The European Business Association (EBA), along with the wider Armenian business community and the European diplomatic community in Armenia, held a business forum to address the challenges and opportunities facing foreign and local companies doing business in the country. Entitled ‘Business perspectives, impediments and opportunities in Armenia’, the event attracted business leaders, foreign...